Is It Legal To Sell Airline Awards

Jul 10, 2011 Posted Under: Credit Cards Info

I received this question from a reader recently

I just am curious how you know it’s “perfectly legal” to sell awards.I would like to sell some miles but looking for documentation on the legality of it.
Thanks so much.

-Jay

Yes, it is perfectly legal to an airline award. By this, I mean that there is no federal, state, or local laws forbidding the sale of an airline award, to my knowledge. By doing so, you are not committing a crime, so you can not be arrested, tried, or convicted for doing so.

What you are doing is violating the terms of the frequent flier program, as they all forbid the sale or barter of awards. This is a far cry from breaking the law. Corporations can invent their own rules, but they can’t actually create laws by themselves. If someone is caught by the airlines buying, selling, or bartering awards, that company can take several actions. They ca

Read Full Post…

Laxmi Vilas Bank launches visa debit gold card

Jul 4, 2011 Posted Under: Credit Cards Info

Private sector lender Laxmi Vilas Bank has come up with a new debit card for its customers. The bank has launched a Visa debit gold cards to cater to its premier customer segment. The bank has also recently issued a classic debit card.

“We expect at least a-third of our card holders to opt for the Visa Debit Gold Card,” said Mr Somasundaram, Chief Executive of the bank.

The transaction limit in the card is Rs 50,000 on the ATM and on point of sale terminals it is Rs 1,00,000.

Every card holder will also be given a personal accident insurance cover of Rs 2,00,000.

 

Discover Open Road Card $150 Restaurant.com Gift Certificate Offer

Jul 2, 2011 Posted Under: Credit Cards Info

Discover has doubled their Restaurant.com bonus from $75 to $150!

So if you like to eat out, you can get a $150 Restaurant.com gift certificate after just one purchase with the Discover® Open Road credit card .

The Discover® Open Road Card also comes with 0% APR on both purchases and credit card balance transfers for a full 12 months.

There is a balance transfer fee of 4%, which can be offset entirely with the $150 Restaurant.com gift certificate.

For example:

Current credit card balance: $3,000 @ 20.99% APR
Balance transfer fee: $120
Restaurant.com gift certificate: $150

In this scenario, you’d walk away with $30 to the good, making it a quasi-no fee balance transfer credit card, assuming you like to eat out at restaurants.

Either way, you certainly shouldn’t be carrying a credit card balance if the credit card APR is that high, since you’ll be paying credit card finance charges through the nose.

Earn Cash Back Too!

The Discover® Open Road Card also allows you to earn a full 2% cash back on your first $250 in combined gas and restaurant purchases each billing period.

Additionally, earn 1% unlimited cash back on all other purchases after your total annual purchases exceed $3,000.

Before then, you get .25% cash back.

If this cash back rewards credit card interests you, apply here.

New Discover Card with 0% APR for 15 Months and a Military Donation

Jun 29, 2011 Posted Under: Credit Cards Info

Discover launched a new credit card today just in time for the Independence Day weekend.

Their Discover® More Card – Operation Homefront $20 Donation comes with 0% APR on both purchases and balance transfers for a full 15 months!

After that, the credit card APR is variable and can range from 11.99% – 20.99%, depending on your credit score and other account information.

Additionally, once you apply and are approved, Discover will donate $20 to military families in need through Operation Homefront.

Operation Homefront is a non-profit organization that provides emergency assistance to military troops and their families, along with those wounded in combat once they return home.

Discover plans to donate up to $125,000 to the foundation for “Works of Art, Acts of Charity.”

Earn up to 5% Cash Back

You can also earn up to 5% cash back in categories that rotate, such as travel, gas, groceries, restaurants, home improvement stores and more.

And earn 1% unlimited cash back on other purchases after your total annual purchases exceed $3000; purchases that are part of your first $3000 earn .25%.

The Discover® More Card – Operation Homefront $20 Donation has no annual fee, no rewards redemption fee, and no additional card fee.

And you get 24/7 access to a U.S.-based account manager within 60 seconds, assuming you have any questions or concerns.

So if you’re looking for a solid balance transfer credit card that also offers competitive cash rewards, this could be a good choice.

The donation is simply icing on the cake!

Apply here.

If 15 months isn’t enough for you, check out my list of the longest 0% APR credit cards.

Credit Card Applications Are Often Turned Down

Jun 27, 2011 Posted Under: Credit Cards Info

One in two applicants for a Barclay credit card is turned down. That’s a pretty high number, so you shouldn’t be too shocked if your application is not approved.

When you apply for a credit card from any bank, you will be screened through ‘Credit Scoring,’ your records are also checked through a credit reference agency.

Some things which will help your case are; being married, having a permanent full-time job, owning your own home, not moving around too much and having a savings account.

But these things alone will not automatically approve you. Some people might not fit in with certain lenders policies. Being over 40 for example might score you some points with some companies, because the credit card company assumes you will be more likely to keep a high balance, which means lots of interest.

If your application was turned down you should find out what the reason was. Lenders

Read Full Post…

Five questions to ask before applying for a new credit card

Jun 26, 2011 Posted Under: Credit Cards Info

Consumer-focused changes to credit card regulations can help clarify your account agreement and eliminate some formerly troubling fees and practices. But, these changes should not strongly motivate you to apply for one or more new credit cards.

Signed into law in 2009, but implemented in early 2010, the CARD (Credit Card Accountability, Responsibility and Disclosure) Act helps card holders save some money and better understand the terms of their account agreements. When you compare credit cards, you’ll see that issuers are now prohibited from increasing interest rates on old balances, charging “unreasonable” late or other fees, and mandated to disclose key terms in your account agreement in large, bold fonts.

Credit card offers are now easier to understand and evaluate. However, credit card deals still require that you read and comprehend the offers. For e

Read Full Post…

Which credit card gives the best value?

Jun 25, 2011 Posted Under: Credit Cards Info

I know that some credit cards offer money back on your spending. Which give the best value and are there fees to be paid? M.G.

Helen Kanolik, an independent financial adviser with with PFM Associates in Poole, Dorset replies:

Two fee-free cards stand out from the pack.

The American ExpressPlatinum Cash Back Card offers cashback of five per cent for the first 3,500 spent, reducing in stages to 1.5% on expenditure above 10,000.

You need an income of 30,000 a year to qualify.

Barclaycard OnePlus is an alternative with no restrictions on income.

This offers 0.5% on spending of up to 6,000 per month and five per cent on spending on public transport in London.

Time for Indian Rupay to enter payment service segment

Jun 25, 2011 Posted Under: Credit Cards Info

Plastic money, be it debit or credit card so far has been bearing logos of global payment service providers MasterCard and Visa. But it might not be too long when these logos would be replaced by ‘Rupay’.

Rupay, the Indian payment service is being launched by National Payments Corporation of India (NPCI). NPCI began operations three years back with 10 banks coming together to form it. It basically looks into the retail payment system in the country.

The entire plastic money payment mechanism in India is presently routed through these foreign players, MasterCard and Visa.

“There should be something domestic. Payment information is very sensitive. So there has to be repository of payment information with some institution. Why should banks in India pay such high fee to MasterCard or Visa,” AP Hota, CEO, National Payments Corporation of India said.

“We believe that it’s possible to reduce the processing fee that banks pay to MasteraCard and Visa by half if not more.

Read Full Post…

Page 8 of 54« First...678910...203040...Last »